The Quantitative and Qialitative Characteristics of Economic Growth in Russia: 30 Years of Market Transformations

This article systematises the results of economic growth in Russia during the post-
Soviet period. It notes the continuing relevance of research on the transitional economies,
and the discussions, still being carried forward in the literature, on the content, models,
factors and results of the socio-economic changes in this group of countries. Three
stages are distinguished in the development of the Russian economy during the post-
Soviet period, and characterisations are provided of the country’s economic dynamic at
each stage. The quantitative outcomes of Russia’s economic growth during the period
between 1990 and 2020 are evaluated. The specific nature of the quantitative growth
in Russia is revealed on the basis of comparisons with the developed countries, with
the countries of the post-Soviet expanse, and with China as the most dynamically
developing economy in the contemporary world. An assessment is made of the
divergence of Russia’s trajectory of economic growth from the corresponding trajectory
of the world economy. The qualitative aspects of this economic growth are revealed on
the basis of structural and social parameters. An evaluation is made of the qualitative
results of Russia’s economic growth, and the qualitative peculiarities of this growth are
demonstrated through comparisons with various groups of countries. Finally, the article
draws conclusions on the need to alter the model of economic growth in Russia in order
to improve the results of this growth in both quantitative and qualitative terms.